{"id":21156,"date":"2022-05-11T10:07:40","date_gmt":"2022-05-11T09:07:40","guid":{"rendered":"https:\/\/www.innovationnewsnetwork.com\/?p=21156"},"modified":"2022-05-11T10:07:40","modified_gmt":"2022-05-11T09:07:40","slug":"copper-cobalt-projects-in-norway-green-energy-transition","status":"publish","type":"post","link":"https:\/\/www.innovationnewsnetwork.com\/copper-cobalt-projects-in-norway-green-energy-transition\/21156\/","title":{"rendered":"Copper-cobalt projects in Norway: Aiding Europe\u2019s green energy transition"},"content":{"rendered":"

Eric Roth, President of Capella Minerals<\/a>, explores how the company is reviving copper-cobalt projects in Norway.<\/h2>\n

With a clear focus on Norway, Capella Minerals Limited (TSXV: CMIL; OTCQB: CMILF; FRA: N7D2) continues to target the discovery and production of key metals \u2013 such as copper and cobalt \u2013 required in both the transmission and storage of renewable energies. Norway is a European leader in the generation of renewable energy<\/a> \u2013 approximately 92% of the country\u2019s electricity supply is derived from hydroelectric power, with a further 6% coming from wind power \u2013 yet the country remains totally dependent on the importation of all the key metals required for energy transmission and storage. This is despite the country having been one of Europe\u2019s foremost copper suppliers up until the mid-1980s \u2013 and with excellent potential still remaining for the discovery of new copper-cobalt deposits which can underpin Europe\u2019s ongoing green energy transition.<\/p>\n

Norway is currently also the largest per-capita consumer globally of electric vehicles (EVs), with approximately 65% of all new vehicles sold in 2021 being fully electric. This insatiable demand for key battery metals, such as cobalt, is expected to continue growing in the immediate future.<\/p>\n

\"Mining
The first copper mine at L\u00f8kken, Gammelgruva, dates from 1654.<\/figcaption><\/figure>\n

Norway\u2019s rich mining history<\/h3>\n

Norway is a country with a rich but oft-forgotten history of copper mining, with the key mining districts of L\u00f8kken and R\u00f8ros having supplied local and European markets since the 1650s. These mining districts remained in production until the mid-1980s, when a combination of low metals prices (copper prices dropped to around $1,500\/tonne), together with a surge in the importance of North Sea oil to the Norwegian economy, effectively left the once-flourishing copper mining districts in a state of hibernation. Previous mining operations had also focused primarily on copper – and to a lesser extent zinc – with little attention having been paid to coexisting metals like cobalt, gold, and silver.<\/p>\n

Four decades later, copper prices are now fast approaching $10,000\/tonne on the back of global supply shortages and increased demand, with the former Norwegian mining districts retaining the potential to provide future supplies of ethically-sourced copper to Europe. Similarly, increasing demand for battery metals like cobalt will make these deposits even more important to Europe\u2019s future.<\/p>\n

Capella currently holds a 100% interest in district-scale exploration blocks covering its three Norwegian copper-cobalt projects \u2013 Hessj\u00f8gruva and Kj\u00f8li (both of which are located in the Northern R\u00f8ros District) and L\u00f8kken (L\u00f8kken Verk District). All three projects are located in the central Tr\u00f8ndelag Province. As these former mining centres have remained idle for the past 40 years, Capella\u2019s current work programmes represent the first modern, systematic exploration activities specifically designed to identify new copper-cobalt resources within these highly prospective districts.<\/p>\n

Capella, in partnership with UK-based Digbee ESG\u00ae<\/sup>, has also adopted a formal Environmental, Social, and Governance (ESG) disclosure system designed to drive and report \u2018international best practice\u2019 ESG principals within the company. This accreditation with Digbee confirms the company\u2019s commitment to ensuring clean, safe, and respectful operating practices.<\/p>\n

\"Mining
High-grade copper-cobalt mineralisation on surface at Kj\u00f8li.<\/figcaption><\/figure>\n

Capella\u2019s commitments include:<\/h4>\n